03/18/2026
🏦 Bank of Canada holds rate at 2.25% — here's why it matters for your wallet.
The BoC kept its key interest rate unchanged Wednesday, citing the growing economic uncertainty triggered by the war in Iran and the closure of the Strait of Hormuz — a critical chokepoint for roughly 20% of the world's oil supply.
What that means for Canadians:
📈 Oil and gas prices are rising sharply
🛒 Expect higher prices on fuel, groceries, and everyday goods
🌾 Fertilizer supply chains could also be disrupted
The Bank says the full impact depends on how long the conflict lasts and how severe it becomes. They can help manage inflation — but only over the long term.
